SmarTire Announces New VP Sales and Marketing
SmarTire Systems Inc. (Richmond, BC, Canada) has recruited David Warkentin as its new Vice President of Sales and Marketing. Warkentin brings over 25 years of sales, sales management and marketing experience in emerging technology sectors to the company.
Continue ReadingBridgestone Americas Continues Positive Trends
Bridgestone Americas Holding (BSAH/Nashville), subsidiary of Bridgestone Corporation, announced its financial results for the six month period ending June 30, 2005. At BSAH, first half sales increased 13% over the previous year, to $4.89 billion. Operating income improved over the prior year to $185 million (from $159 million in the first half of 2004, a 16% increase). The improvement in operating income was due to enhanced tyre product and brand mix and increased efficiencies which helped offset unprecedented increases in raw material costs. Net income also rose in the first half of 2005 by 35%, to $138 million from $102 million in the first half of 2004. BSAH benefited from strong growth in its Latin American Operations and in BFS Diversified Products, LLC. BFS Retail & Commercial Operations, LLC also exhibited growth in the first half of 2005.
Continue ReadingThe End is Near – Time for a New Beginning?
The problems Continental faces in the US are more or less ‘homemade’. The problem is there doesn’t appear to be any solution available unless you call a total tactical retreat from the biggest market in the world a solution. In the event that this happens, it is more than likely that the company would call such a decision to cease selling tyres in the US a “strategic withdrawl.” More...
Continue ReadingAnsell Announces Board Appointments
Ansell Ltd. (Australia/Goodyear’s joint venture partner in South Pacific Tyres) announced the appointment, effective 9 August 2005, of Mr Peter L Barnes as Chairman of the Board of Directors to succeed Dr Edward D Tweddell, who died on 4 August. Mr Barnes has been a Non-executive Director since October 2001. He has been Chairman of Ansell’s Audit Committee and is a member of its Nomination, Remuneration and Evaluation Committee.
Continue ReadingBridgestone Australia – Turnover Down, Profits Up
Bridgestone Australia has released its financial results for the first half of 2005. Turnover is down 2.6 per cent to A$ 262.3 million (1H 04 A$ 269.2 m) but profits after tax and expenses rose by 20.8 per cent to A$6.6 m (1H 04 A& 5.4 m).
Continue ReadingPrice War Breaks Out In Chinese Auto Industry
Industry analysts have reported that, after a period of scaling down production and reducing inventories, a price war appears to have resumed in the Chinese auto sector. Shanghai VW, the joint venture between VW and SAIC, has cut the prices of 20 models by 7 to 14 per cent and the analysts expect other manufacturers to follow suit.
Continue ReadingAmtel-Vredestein Announces New Appointments
The Open Joint Stock-Company Amtel-Vredestein has announced new appointments. Managers with experience in Russian and transnational companies hold key positions in the company. Andrei Makov has been appointed Deputy General Director, Legal Issues; Gennady Frolov, Deputy General director, IR; Marie-Jose Nuelandt has been appointed Deputy General Director, HR; and Andrei Zyryanov, Director, Raw Materials Department.
Continue ReadingDunlop Becomes National MotorWeek Series Sponsor
(Akron/Tire Review) Goodyear Tire & Rubber Co.’s Dunlop brand has signed on as sponsor of the award-winning PBS automotive series MotorWeek, joining Stanley Works as the show’s second national sponsor. Andy Traicoff, director of Dunlop, said the company added MotorWeek to its media mix to promote the 2005-2006 Dunlop Drivers Cup and to increase brand awareness for Dunlop Tires, already popular among performance car enthusiasts. Faced with increased competition for marketing dollars, we targeted MotorWeek to reach automotive enthusiasts who are likely to participate in racing, and to reach the in-the-know driver, said Andy Traicoff, director of the Dunlop brand. Traicoff said Dunlop added MotorWeek to help promote the 2005-06 Dunlop Drivers Cup and to increase brand awareness for Dunlop Tires. MotorWeek is the original automotive TV “magazine series,” and has been on the air since 1982.
Continue ReadingAlliance Tire Company’s Shares Grew at 160% in 2005
The positive business results of Alliance Tire Company have been rewarded by a vote of confidence from investors side. The company is currently producing around 120,000 agricultural tyres at around US $ 42 million a year and has been the second best Israeli stock market investment of the year. Company share grew at 160% from the beginning of 2005.
Continue ReadingBridgestone: Smaller OP Drop Than Expected
Tyre maker Bridgestone Corp. said on Tuesday first-half operating profit edged up despite higher raw materials prices, and it lifted its full-year forecasts citing robust sales of high-end products. The higher forecast was expected after Bridgestone said last month it would likely post a smaller drop in 2005 operating profit than first thought thanks to brisk demand for tyres that offer higher safety or help raise fuel economy.
Continue ReadingGoodyear Sells Plantation to Bridgestone
Goodyear Tire & Rubber has completed the sale of its 95 per cent stake in Goodyear Sumatra Plantations to Bridgestone Corporation. The price was around $62 million.
Continue ReadingCopper Production Could Be Hurt By Tyre Shortage
(Akron/Tire Review) Mining Engineering magazine reported that one of the worlds largest mining companies said it may have to reduce copper production because of a shortage of large truck tyres. An executive of Corporacion Nacional del Cobre de Chile (Codelco) said demand for truck tyres currently exceeds supply. Guillermo Vero, Codelco Nortes vice president of mining and metallurgy, said the shortage involves tyres for 300-ton haul trucks.
Continue ReadingMichelin Covers US F1 Refund Costs
Michelins half year financial results, published last week, include provision for the cost of reimbursing ticket holders at this years US F1 Grand Prix at Indianapolis, when seven Michelin-shod teams withdrew from the race. The cost, estimated at around 12 million euros, has been accounted for in the operating income figure before non-recurring items, says the company.
Continue ReadingSumitomo Rubber Raises Forecasts
Sumitomo Rubber Industries has revised upwards its forecasts for its half year financial results, which are due to be published this Friday. The reasons for the upbeat revision are better-than-expected tyre sales at home and overseas, plus benefits gained from price rises during the period.
Continue ReadingKraiburg Treads for Safer Winter Driving
Snow-covered roads, icy tarmac, wet, slush – those who want to be able to drive as safely as possible even in wintry conditions will need special tyres. The better the tread is able to transmit the traction forces, the less the vehicle will be likely to skid – regardless of whether it is a car, a truck or a bus. Retreading specialist Kraiburg Austria’s range of products includes a variety of winter tyre profiles specially developed for commercial vehicles – both in the Kraiburg standard range as well as in the Kraiburg plus premium range.
Continue Reading